The Real Deal Miami

Mortgage applications rise

August 19, 2009 03:27PM

U.S. mortgage applications increased last week for the third week in a row, according to the Mortgage Bankers Association. The organization’s seasonally adjusted index of mortgage applications rose 5.6 percent, to 527. Refinancings rose to 53.3 percent of total applications from 52.3 percent a week earlier. The average interest rate for a 30-year fixed-rate mortgage fell to 5.15 percent from 5.38 percent the previous week. The average interest rate for a 15-year fixed-rate mortgage fell to 4.52 percent from 4.71 percent the previous week. TRD